Personal finance

The Powerball jackpot hit $1.2 billion on Oct. 3, 2023, the third-biggest prize in the game’s history. Scott Olson | Getty The Powerball jackpot has grown to an estimated $535 million — and with the year-end approaching, the winner may wonder whether it’s better to claim the prize in 2023 or 2024. There have already

FG Trade A growing number of mutual funds are converting to exchange-traded funds, which is a positive trend for investors, experts say. Since early 2021, there have been more than 70 mutual fund to ETF conversions, including nearly three dozen in 2023, according to Morningstar Direct, and experts say more conversions are coming. “It’s steadily

Traders work on the floor of the New York Stock Exchange during morning trading on December 13, 2023 in New York City. Michael M. Santiago | Getty Images The stock market is having a holiday party. But financial advisors urge investors to use caution for before joining in. “Don’t fall prey to irrational exuberance,” said

Valentinrussanov | E+ | Getty Images Retirement balances for midcareer workers declined between 2019 and 2022, despite gains on financial assets like stocks over that period, according to new research. However, the loss isn’t necessarily as bad as it may initially seem, financial experts said. Median combined 401(k) plans and individual retirement account balances for

Shohei Ohtani, formerly of the Los Angeles Angels, pitches during a game in Anaheim, California, on July 6, 2021. Daniel Shirey | Major League Baseball | Getty Images Shohei Ohtani made history this week with a 10-year, $700 million contract to play for Major League Baseball’s Los Angeles Dodgers. The deal’s unique payout structure, however,

Thomas Barwick | Stone | Getty Images Inflation has been falling gradually across the U.S. economy. This process, known as disinflation, means prices for consumer goods and services are rising but at a slower pace than they had been. However, inflation has actually turned negative in some sectors, like energy. Deflation, as this dynamic is

Kentaroo Tryman | Maskot | Getty Images Inflation declined slightly last month on the back of weaker prices at the gasoline pump and a broader easing of price pressures throughout the U.S. economy, experts said. The consumer price index in November increased 3.1% from 12 months earlier, down from 3.2% in October, the U.S. Bureau

Fizkes | Istock | Getty Images There’s one piece of good news for student loan borrowers bummed out by the resumption of their bills this fall: They may be eligible for a break on their 2023 taxes. The student loan interest deduction allows qualifying borrowers to deduct up to $2,500 a year in interest paid

Women control only about one-third of all financial assets in the U.S., but that is about to change. As part of the great wealth transfer, women are expected to inherit much of the $68 trillion in wealth that baby boomers are passing down, according to research by McKinsey. Whether husbands are leaving money to their

If it seems like your paycheck disappears as quickly as it hits your bank account, you’re not alone. More than 60% of Americans live paycheck to paycheck as of September 2023, according to a LendingClub report. Even people in higher income brackets are affected. More than half of Americans earning over $100,000 a year live

Only 41% of investors with more than $1 million have a plan for passing on their wealth to future generations, UBS says. kate_sept2004 via Getty Images As retirees consider their legacy, a popular income tax-saving strategy has become more common, experts say. The strategy, known as a Roth individual retirement account conversion, transfers pretax or nondeductible

Klaus Vedfelt | Digitalvision | Getty Images As financial advisors weigh year-end tax planning strategies, there’s a looming issue on the horizon for high-net-worth clients. Several key provisions from the Republicans’ signature 2017 tax overhaul are slated to expire after 2025, including a higher federal gift and estate tax exemption that allows more wealthy Americans